Growing debt ceiling deal hopes send stocks higher

  • 📰 Reuters
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

U.S. stocks closed higher for a second straight day on Thursday on mounting optimism that a U.S. debt ceiling deal could be reached within days, with discount retailer Walmart Inc providing additional support after an upbeat annual sales forecast.

The debt ceiling has drawn attention away from uncertainty about the Federal Reserve's stance on interest rates.for jobless benefits fell more than expected last week, suggesting the labor market remains tight, giving the Fed more cushion to continue raising rates.Recent data has indicated some slowing in the U.S. economy following a string of Fed rate hikes to fight high inflation.

the economy does not appear to be softening fast enough for the central bank to pause its rate hike cycle. "If we get a debt ceiling agreement at the end of the week here and remove that macro issue, you still have the Fed meeting in June, now that is probably a live meeting based on what some of the policymakers have been saying this week, so that could be a concern, it could kind of cap some of the momentum in the market," said Saglimbene.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Walmart’s stock rally and Cisco’s stock selloff after earnings are a net 20-point positive for the Dow’s priceThe Dow Jones Industrial Average is getting a net 20-point boost Thursday from its components that reported earnings, with Walmart Inc.’s stock-price gain...
Source: MarketWatch - 🏆 3. / 97 Read more »

Walmart stock rises after beating earnings expectations and raising full-year profit outlook, while current-quarter view was below forecastsShares of Walmart Inc. climbed 1.4% in premarket trading Thursday, after the discount retail giant reported fiscal first-quarter results beat expectations...
Source: MarketWatch - 🏆 3. / 97 Read more »